Jeff E. suggested this: Wilbur Ross Sees ‘Huge’ Commercial Real Estate Crash [1]
“FarmerGreen” mentioned: Harvard’s Bet on Interest Rate Rise Cost $500 Million to Exit [2]. Even the best and brightest at Harvard lost a billion to get out of a derivatives [3] contract that went south.
Bruiser spotted this: California to Begin Holding More of Your Paycheck [4]. Bruiser’s comment: “The lesson here is that if one needs a loan, just go out and take it from everyone who has a job. Like Commifornia is doing.” [JWR Adds: My favorite quote from the article: “The state is closing part of this year’s budget deficit by taking an advance on next year’s tax revenues. ‘It’s a one-time acceleration, or on-time speeding up if you will, of tax dollars that would otherwise be collected next fiscal year.’ But the state wants to make clear that the change, which has no cutoff date, is not a tax.” Yeah. right. (Only someone that graduated from a California public school would believe that Bravo Sierra.]
Items from The Economatrix:
Flat Income, Weak Consumer Spending Raises Concerns
Dollar Rises Most Since April
[5]
10-Year Treasury Notes Decline Most Since May [6]
Trillion Dollar Ticking Derivatives Time Bomb to Explode Under Bankrupt Banks [7]